Bloomberg reported that the automaker bailout plan is drafted, but will the Democrats be able to muster enough Republican help to make it a reality?
Key features include an auto czar. The president would be required to appoint a person or board to oversee long-term restructuring as a condition to receive federal aid. The Bush administration dislikes some of the legislation and a spokesman noted that the bill may not force companies to make the long-term decisions needed to become profitable.
A vote on the legislation is expected as early as Tuesday, though final details are still being worked out.